Emirati ADNOC is still loading liquefied natural gas in the Persian Gulf despite the latest exchange of strikes between the United States and Iran, Bloomberg has reported, citing satellite imaging data.
The data showed one tanker docked at ADNOC’s Das Island export terminal on September 2, with another one in the vicinity of the terminal as well. The publication noted, however, that both these vessels were in so-called dark mode, with their transponders switched off to avoid detection.
ADNOC has had some success in getting its liquefied gas out of the Persian Gulf with tankers turning off their transponders, a tactic also used by oil tankers. The Emirati energy major has been among the hardest hit by the Hormuz closure, with the resulting oil disruptions prompting it to accelerate plans for boosting the capacity of a pipeline that bypasses the chokepoint.
To secure the export of liquefied natural gas, the UAE has been using rare ship-to-ship transfers outside the Strait of Hormuz. Recent reports said that three LNG carriers loaded from Qatar and the United Arab Emirates in the Persian Gulf had transferred their cargoes onto other vessels outside the Strait of Hormuz in the past month, a move that’s highly unusual for LNG cargoes but one that could help boost LNG shipments from the region.
On the oil front, ADNOC is building a new pipeline to Fujairah, doubling the capacity of the existing export conduit to the port city sitting right outside the Strait of Hormuz by next year. The energy giant also recently warned that the impact of the war on energy supply could stretch into 2027—a prospect that is looking increasingly likely.
Indeed, despite efforts to get some LNG out of the Persian Gulf, flows appear all but frozen, Bloomberg and others have reported recently.
By Irina Slav for Oilprice.com
More Top Reads From Oilprice.com
Oilprice Intelligence brings you the signals before they become front-page news. This is the same expert analysis read by veteran traders and political advisors. Get it free, twice a week, and you’ll always know why the market is moving before everyone else.
You get the geopolitical intelligence, the hidden inventory data, and the market whispers that move billions – and we’ll send you $389 in premium energy intelligence, on us, just for subscribing. Join 400,000+ readers today. Get access immediately by clicking here.